Walmart's Jet.com targets millennials with new grocery line
High-end line will include such products as coffee and olive oil
Just over a year after Walmart spent more than $3 billion for the fast-growing online retailer Jet.com, it will launch a higher-end grocery line targeting millennials as it tries to contain Amazon.com.
Amazon last month closed on its acquisition of Whole Foods, intensifying the competition between Walmart, Target, and other supermarkets as all of them fight to win a bigger slice of the grocery market.
Jet.com said Friday the new brand, called Uniquely J, will focus on younger customers in urban areas, offering them select coffee, olive oil, paper towels, and other products.
Amazon cut prices almost immediately on a number of items at Whole Foods after it closed on the deal. Walmart has done the same over the past month.